CIK: 0001902567
Total reported value
$413.0M
Reporting period: 2026-03-31 · Number of holdings: 30
Varenne Capital Partners disclosed 30 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $413.0M and a quarterly turnover rate of 92.9%.
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Varenne Capital Partners's disclosed holdings carry a Herfindahl concentration index of 0.074 — mathematically equivalent to about 14 equally-sized positions, well below its 30 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.12), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim WAB
-92.7% -$51.5M
Trim TEL
-57.5% -$39.4M
Add BKNG
+1000.9% $24.0M
Add TSM
+1.0% $7.0M
Add ADI
+8.4% $5.6M
Trim 654106903
0.0% -$8.8M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 15.15% | +4.48% | +1.02% | |
| 2 | ANET | Arista Networks INC | Stock-Tech | 12.52% | +1.39% | -4.99% | |
| 3 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 6.56% | +5.96% | +1000.86% | |
| 4 | NVST | Envista Holdings CORP | Stock-Healthcare | 6.48% | +6.48% | NEW | |
| 5 | ADI | Analog Devices INC | Stock-Tech | 6.26% | +2.36% | +8.38% | |
| 6 | TEL | TE Connectivity plc | Stock-Tech | 6.14% | -6.31% | -57.50% | |
| 7 | T | At&t INC | Stock-Comm Services | 5.87% | +5.87% | NEW | |
| 8 | LLY | Eli Lilly & Co | Stock-Healthcare | 5.82% | +0.51% | +1.34% | |
| 9 | APH | Amphenol Corp-cl A | Stock-Tech | 5.69% | +0.92% | +0.88% | |
| 10 | GMED | Globus Medical INC - A | Stock-Healthcare | 4.95% | +4.95% | NEW | |
| 11 | DECK | Deckers Outdoor CORP | Stock-Consumer Disc | 4.93% | +4.93% | NEW | |
| 12 | MSFT | Microsoft CORP | Stock-Tech | 4.66% | -0.10% | +1.12% | |
| 13 | GXO | Gxo Logistics INC | Stock-Industrials | 2.05% | +2.05% | NEW | |
| 14 | MU | Micron Technology, Inc. | Stock-Tech | 1.94% | +1.94% | NEW | |
| 15 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.60% | +1.60% | NEW | |
| 16 | GEV | GE Vernova INC | Stock-Industrials | 1.33% | +0.35% | -19.61% | |
| 17 | WAB | Wabtec CORP | Stock-Industrials | 1.17% | -9.64% | -92.71% | |
| 18 | MU | Micron Technology INC | Stock-Tech | 1.00% | +0.13% | -23.15% | |
| 19 | GTLS | Chart Industries INC | Stock-Industrials | 0.90% | +0.42% | +48.95% | |
| 20 | HO1 | Hologic INC | Stock-Other | 0.87% | +0.45% | +62.71% | |
| 21 | AL | Air Lease CORP | Stock-Other | 0.85% | +0.28% | +16.87% | |
| 22 | AVGO | Broadcom INC | Stock-Tech | 0.72% | +0.09% | +1.34% | |
| 23 | AM6 | Amicus Therapeutics INC | Stock-Other | 0.63% | +0.64% | NEW | |
| 24 | K4F | Onestream INC | Stock-Other | 0.45% | +0.45% | NEW | |
| 25 | CWAN | Clearwater Analytics Holdings, Inc. | Stock-Tech | 0.44% | +0.44% | NEW | |
| 26 | ✓ | Nike INC | Stock-Other | 0.33% | -1.62% | — | |
| 27 | GEHC | GE Healthcare Technology | Stock-Healthcare | 0.30% | +0.03% | +1.61% | |
| 28 | ✓ | Amazon Com INC | Stock-Other | 0.17% | +0.17% | NEW | |
| 29 | ROP | Roper Technologies INC | Stock-Tech | 0.15% | +0.15% | NEW | |
| 30 | SDA | Sealed Air CORP | Stock-Consumer Disc | 0.07% | +0.07% | NEW |
Performance for Q3 2026
-0.1%
Performance Last 4 Quarters
+6.5%
Based on 57% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 30 | $413.0M | 93 | |
| 2025-12-31 | 28 | $520.9M | 79 | |
| 2025-09-30 | 24 | $526.7M | 100 | |
| 2025-06-30 | 22 | $576.5M | 0 | |
| 2025-03-31 | 18 | $278.4M | 0 | |
| 2024-12-31 | 17 | $338.9M | 0 | |
| 2024-09-30 | 16 | $522.2M | 0 | |
| 2024-06-30 | 16 | $396.1M | 0 | |
| 2024-03-31 | 17 | $637.5M | 0 | |
| 2023-12-31 | 19 | $334.7M | 0 | |
| 2023-09-30 | 8 | $103.5M | 0 | |
| 2023-06-30 | 11 | $214.6M | — | |
| 2023-03-31 | 9 | $298.5M | 0 | |
| 2022-12-31 | 7 | $197.7M | 0 | |
| 2022-09-30 | 11 | $241.1M | 0 | |
| 2022-06-30 | 14 | $360.6M | 0 | |
| 2022-03-31 | 14 | $492.8M | 0 | |
| 2021-12-31 | 15 | $673.8M | 0 |
Varenne Capital Partners's most significant position changes for 2026-03-31: Sold out: On Hldg AG; Sold out: Xylem INC (XYL); New buy: Envista Holdings CORP (NVST); New buy: At&t INC (T); Sold out: Uber Technologies INC (UBER).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BKNG | Booking Holdings INC | +6% | +1000.86% | Add |
| 2 | TSM | Taiwan Semiconductor-sp Adr | +4.5% | +1.02% | Add |
| 3 | ADI | Analog Devices INC | +2.4% | +8.38% | Add |
| 4 | ANET | Arista Networks INC | +1.4% | -4.99% | Trim |
| 5 | APH | Amphenol Corp-cl A | +0.9% | +0.88% | Add |
| 6 | LLY | Eli Lilly & Co | +0.5% | +1.34% | Add |
| 7 | HO1 | Hologic INC | +0.5% | +62.71% | Add |
| 8 | GTLS | Chart Industries INC | +0.4% | +48.95% | Add |
| 9 | GEV | GE Vernova INC | +0.4% | -19.61% | Trim |
| 10 | AL | Air Lease CORP | +0.3% | +16.87% | Add |
| 11 | MU | Micron Technology INC | +0.1% | -23.15% | Trim |
| 12 | AVGO | Broadcom INC | +0.1% | +1.34% | Add |
| 13 | GEHC | GE Healthcare Technology | 0% | +1.61% | Add |
| 14 | MSFT | Microsoft CORP | -0.1% | +1.12% | Add |
| 15 | ✓ | Nike INC | -1.6% | — | Unchanged |
| 16 | TEL | TE Connectivity plc | -6.3% | -57.50% | Trim |
| 17 | WAB | Wabtec CORP | -9.6% | -92.71% | Trim |
| 18 | ✓ | On Hldg AG | — | EXIT | Sold out |
| 19 | XYL | Xylem INC | — | EXIT | Sold out |
| 20 | NVST | Envista Holdings CORP | — | NEW | New buy |
| 21 | T | At&t INC | — | NEW | New buy |
| 22 | UBER | Uber Technologies INC | — | EXIT | Sold out |
| 23 | NFLX | Netflix INC | — | EXIT | Sold out |
| 24 | ADSK | Autodesk INC | — | EXIT | Sold out |
| 25 | GLW | Corning INC | — | EXIT | Sold out |
| 26 | GMED | Globus Medical INC - A | — | NEW | New buy |
| 27 | DECK | Deckers Outdoor CORP | — | NEW | New buy |
| 28 | GXO | Gxo Logistics INC | — | NEW | New buy |
| 29 | MU | Micron Technology, Inc. | — | NEW | New buy |
| 30 | UHS | Universal Health Services-b | — | EXIT | Sold out |
| 31 | JNJ | Johnson & Johnson | — | NEW | New buy |
| 32 | AM6 | Amicus Therapeutics INC | — | NEW | New buy |
| 33 | K4F | Onestream INC | — | NEW | New buy |
| 34 | CWAN | Clearwater Analytics Holdings, Inc. | — | NEW | New buy |
| 35 | PYPL | Paypal Holdings INC | — | EXIT | Sold out |
| 36 | ✓ | Amazon Com INC | — | NEW | New buy |
| 37 | ROP | Roper Technologies INC | — | NEW | New buy |
| 38 | SDA | Sealed Air CORP | — | NEW | New buy |
| 39 | Q | Qnity Electronics INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-12 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-11-14 | Amendment | View on EDGAR |
| 2023-06-30 | 2023-08-11 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-09 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-27 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
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